PRZOOM - /newswire/ -
Wilmington, DE, United States, 2015/04/08 - Asia-Pacific and North America are the top-two consumers in the world. U.S. and China are the key countries in North America and Asia-Pacific, respectively growing at CAGRs of 5.3% and 9.8% between 2014 and 2019 - MarketsAndMarkets.com.

The high temperature elastomers market is projected to grow from more than $7 billion in 2014 to north of $11 billion by 2019, with a CAGR of 8.0% between 2014 and 2019.

The high temperature elastomers market is segmented by type, by application and by region. The market size of each region such as North America, Europe, Asia-Pacific, and Rest of the World (RoW) is projected in the report. The key countries such as U.S., China, Germany and Japan are covered and their market size is forecasted along with their growth rates.

Silicone elastomers is the Largest Segment, By Type

Silicone elastomers are estimated to be the largest segment, both in terms of value as well as volume, in 2014 with a market share of more than 90% of the total high temperature elastomers market. Silicone elastomers are also projected to be the largest segment throughout the projection year till 2019. The growth in silicone elastomer market is expected to be well above the growth rate of high temperature elastomer market.

Asia-Pacific is the Largest Consumer of High Temperature Elastomers

Asia-Pacific is the largest consumer of HTEs globally, holding more than 40% share of the global high temperature elastomers market in 2014 and is projected to grow at a CAGR well above the global average.

High Temperature Elastomers Market, By Applications

The high temperature elastomers market is segmented into five major application segments; they are transportation, electrical & electronics, healthcare, consumer goods, industrial machinery, and others. The demand for transportation application segment accounted for the largest share in 2014, Asia-Pacific is estimated to be the largest region for transportation application segment in 2014.

Leading companies such as Dow Corning Corporation (US), Wacker Chemie A.G. (Germany), Momentive Performance Materials Inc. (US), Solvay S.A. (Belgium), and E.I. du Pont de Nemours and Company (US) are focusing on development of new HTEs products through research and innovation, in order to expand their customer base.

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